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WEMERT<br />
SCAN TO ACCESS THIS BOOK<br />
DIGITALLY ON<br />
WEMERTGROUPREALTY.COM
HIRING<br />
WEMERT GROUP<br />
IS THE RIGHT MOVE<br />
Our team serves ALL of Central Florida/Orlando.<br />
We are proud to have served over 1500 Families<br />
(homes sold) in the last 2 years alone!<br />
Whether you are buying your first home, investing, or<br />
relocating to Central Florida, finding the right real<br />
estate agent begins with a thorough needs analysis,<br />
where your agent can help you dive into your real<br />
estate goals. Together, you'll match expectations on<br />
the type of service you need from an agent and how<br />
quickly you’d like to purchase.<br />
TOP 50 IN THE NATION<br />
TOP 20 IN THE NATION<br />
FOLLOW ALONG WITH US
A MESSAGE FROM OUR<br />
T E A M L E A D E R & F O U N D E R<br />
WELCOME TO WEMERT GROUP REALTY<br />
I’m Jenny <strong>Wemert</strong>, founder of <strong>Wemert</strong> <strong>Group</strong> <strong>Realty</strong>. With over 25 years of experience as a licensed real estate agent and<br />
22 years as a top producer in the Orlando market, I’m incredibly proud of the team we’ve built here. What started as a<br />
vision has grown into a powerhouse brokerage, made up of dedicated, full-time agents who share one common<br />
philosophy: our customer’s needs always come first.<br />
At <strong>Wemert</strong> <strong>Group</strong> <strong>Realty</strong>, we’ve intentionally grown our team by attracting agents with servant hearts—professionals I<br />
could trust to uphold the integrity of our brand. Every agent is supported by licensed transaction managers, an in-house<br />
marketing department, and a leadership team that’s both experienced and fully engaged in every transaction.<br />
Why Choose a <strong>Wemert</strong> Agent?<br />
When you choose to work with one of our agents, you’re not just getting a partner for your real estate journey—you’re<br />
gaining access to an entire team of experts. Our agents are:<br />
Experienced Negotiators with the skills to advocate for you at every stage of the deal<br />
Armed with Superior Market Knowledge to help you make informed decisions<br />
Equipped with Deep Resources, Tools, and Connections to tackle any challenges that arise<br />
Utilizing Advanced Technology for a seamless search and transparent transaction process<br />
Connected to Off-Market Properties to give you a competitive edge<br />
But don’t just take my word for it—hear from over 2,500+ happy clients by scanning the QR code below.<br />
We look forward to helping you find your perfect home!<br />
Warmly,<br />
Jenny <strong>Wemert</strong><br />
Founder, <strong>Wemert</strong> <strong>Group</strong> <strong>Realty</strong>
SELLING<br />
A HOME<br />
WITH WEMERT GROUP REALTY<br />
When you hire<br />
<strong>Wemert</strong> <strong>Group</strong> <strong>Realty</strong><br />
to sell your home,<br />
you're hiring<br />
ADVOCATES with<br />
over 20 years<br />
experience, who will<br />
work on your behalf,<br />
while GUIDING you<br />
every step of the way.<br />
Our impeccable<br />
service and SKILLS are<br />
second to none in the<br />
industry.<br />
we are....<br />
TRUSTED ADVOCATES:<br />
We will always look out for your best interest while leading you through<br />
every single step of the home selling process<br />
SKILLED DATA ANALYSTS:<br />
We are experts in pricing and reading market trends. Your agent will use<br />
comparable active listings and recent sales information to help make<br />
educated data-driven decisions regarding the marketing of your home<br />
EXPERT MARKETERS:<br />
Commit their time and energy to sell your home - no matter how long it<br />
takes. Your agents will use their skills, resources, and leave no stone<br />
unturned when searching for a buyer for your property<br />
SKILLED NEGOTIATORS:<br />
Your agent will skillfully negotiate the deal to save you money, time,<br />
energy, and eliminate the stress involved by putting their years of<br />
training as an expert to work for you.
NAVIGATING<br />
THE HOME<br />
SELLING PROCESS<br />
FIND THE RIGHT REAL ESTATE EXPERTS<br />
Lucky for you, you've already found us!<br />
Our team is excited to partner with you on this journey!<br />
WE RESEARCH THE MARKET, YOUR HOME, COMPARABLE<br />
ACTIVE LISTINGS & RECENT SALES SO WE CAN HELP YOU DETERMINE<br />
THE BEST PRICE TO MARKET YOUR HOME.<br />
LISTING APPT<br />
+ Tour Your Home<br />
+ Understand Your Needs<br />
+ Determine Price<br />
+ Discuss Marketing Plan<br />
+ Offer Staging Advice<br />
+ Set Critical Dates<br />
PREPARE FOR THE MARKET<br />
PROFESSIONAL PHOTOGRAPHY<br />
APPOINTMENT<br />
+ Paperwork & Contract MARKETING RESEARCH<br />
Our professional marketing team are experts in digital<br />
marketing, placement and telling your home's story in a way<br />
that will attract buyer traffic from hyper- local to<br />
international channels<br />
YOUR HOME IS OFFICIALLY ON THE MARKET<br />
OFFERS, NEGOTIATIONS, & AN ACCEPTED OFFER<br />
BUYER'S INSPECTION<br />
NEGOTIATIONS &<br />
APPRAISAL<br />
NEGOTIATIONS<br />
__________________<br />
CLOSING<br />
Time to sign the papers and pop some<br />
bubbly and celebrate a new chapter and<br />
the house being SOLD!<br />
TITLE WORK BEGINS
" Would you hire a<br />
a surgeon who only<br />
performs 3 surgeries<br />
a year?<br />
You NEED AN EXPERT.<br />
Our team sells over<br />
3 homes a day.<br />
- JENNY WEMERT<br />
WEMERT GROUP REALTY
THE POWER<br />
of the team<br />
AT WORK FOR YOU
4WHEN MAKING A<br />
FOR YOUR<br />
FACTORS WE CONSIDER<br />
PRICING PLAN<br />
HOME<br />
Agents must be part mathematician,<br />
psychologist and artist to price a home to sell.<br />
A well-priced home creates interest, attracts buyers, generates<br />
showings, and produces offers, usually very quickly. An under priced<br />
home will attract buyers and may sell quickly, yet may detract buyers<br />
who wonder "what's wrong with it?" as well as be overlooked by the<br />
buyers looking in a slightly higher price range. An overpriced home will<br />
be evidenced by lack of interest, few showings, no offers, a longer time<br />
on the market, and possibly price cuts - which can look bad from the<br />
buyer's prospective.<br />
1<br />
CONDITION<br />
You don't get a second chance to make a first<br />
impression. Most buyers make a decision about the<br />
property they see within the first 15 seconds of<br />
entering the home. Homes in great condition will<br />
attract more interest and offers and will tend to sell for<br />
more than homes in less than great condition. Staging<br />
can make a difference - de-cluttering and improving<br />
the general cleanliness and condition of the home is<br />
what we call 'staging.' Staged homes become more<br />
valuable than other comparable properties in a similar<br />
price range.
2<br />
LOCATION<br />
You've probably heard it said before: Location,<br />
Location, Location! Well, it's true. Location is<br />
one of the most important factors in<br />
determining the value of your property. We will<br />
do all we can to maximize your home's location<br />
and proximities.<br />
3<br />
TIMING<br />
Property values are affected by the current real<br />
estate market. Because we can't manipulate<br />
the market, we'll collab orate on a pricing and<br />
marketing strategy that will take advantage of<br />
the first 30 days your property is listed. It's the<br />
window of opportunity when buyers and their<br />
agents discover your property and are most<br />
likely to visit and make offers.<br />
4<br />
COMPETITION<br />
Prospective buyers are going to compare your<br />
property - both the condition and the price - to<br />
other active listings in and around your<br />
neighborhood. In order to get buyers' attention<br />
away from your competition and focused on<br />
your home, we will be competitive by properly<br />
pricing and staging your home.
OUR HIGH TECH, HIGH TOUCH<br />
MARKETING PLAN<br />
IS A STANDARD ABOVE THE REST!<br />
We believe a comprehensive marketing campaign for your house should include both<br />
traditional and digital marketing. In order to maximize exposure, the work behind the scenes<br />
begins before your home is even officially listed in the MLS to drive traffic and utilize our<br />
marketing machine to ensure your property’s launch is as successful as possible. Our strategic<br />
layered marketing approach ensures a buyer, no matter where they are located in the world, can find,<br />
view, and fall in love with your home.<br />
WE INVEST IN THE SALE OF YOUR HOME<br />
■ Professional Photos<br />
■ 3D Walk-throughs<br />
■ Aerial Photography<br />
■ Virtual Staging<br />
■ Database of 130,000+<br />
■ Agent Network of 16,000+<br />
■ Facebook Page with 12,500+<br />
■ Vast US Relocation Network<br />
■ Top Exposure & Placement on<br />
Popular Search Sites<br />
■ Cross-Platform Social Media Campaigns<br />
■ Global Property Search Sites
WHEN SELLING,<br />
FIRST IMPRESSIONS<br />
MATTERS<br />
Most buyers will see your home for the first time<br />
online, and we only have ONE TIME to make a<br />
great first impression.<br />
Our team invests in professional photography for<br />
every home we sell. We lean on tools like virtual<br />
walkthroughs, aerial photography, and virtual<br />
staging to help highlight a home and show it in its<br />
best light.<br />
Our listings dominate online, with dedicated<br />
property websites and prominent promotion on<br />
our website that attracts 120,000+ visitors<br />
monthly. Our social media and email marketing<br />
campaigns allow thousands of Buyers to find<br />
your home online, in places where they’re<br />
already spending their online time no matter<br />
where they are located in the world.<br />
aerial photography<br />
virtual staging<br />
Ways we may find your buyer:<br />
NETWORKING<br />
Our listings receive attention from our vast<br />
network of potential Buyers (of over 130,000+)<br />
and local agents alike. We proactively network to find<br />
your buyer.<br />
FOR SALE SIGNS<br />
It’s not unusual for Buyers to cruise their potential<br />
neighborhoods in search of their perfect house, so a<br />
For Sale sign is always recommended when allowed.<br />
ONLINE MARKETING<br />
We strategically identify who the likely Buyers are<br />
for your home and develop individualized<br />
marketing plans to reach them utilizing tools such<br />
as the following:<br />
■ Multiple Listing Service (MLS)<br />
■ Global Property Searches (Proxio/Listhub)<br />
■ Top Exposure & Placement on Popular Consumer<br />
Search Sites (ie- Realtor.com/Zillow)<br />
■ Cross-Platform Targeted Social Media Campaigns<br />
■ Google listings, SEO, and Targeted Buyer Campaigns
SHOWINGS<br />
& FEEDBACK<br />
When Buyers make an appointment to see your<br />
house, keep the following in mind:<br />
■ It's considerate to leave your home so the agent and their<br />
buyers can look at the home without you present.<br />
■ Be as flexible as you can with requested showings. Keep in<br />
mind, buyers may need to look at the home in the evening<br />
or on the weekends.<br />
■ Make a plan for pets and kid so you don't have to stress<br />
when showings come up last minute.<br />
APPOINTMENTS TO SHOW THE HOME<br />
Showing Time allows licensed Real Estate agents to schedule<br />
showings 24/7. Showings will not begin until your home is ACTIVE on<br />
MLS.<br />
Appointments to view your home are coordinated through<br />
Showing Time. You will receive an invitation shortly after your<br />
listing is active to set your showing notification preferences.<br />
Agents and our staff will take care of bringing buyers to your<br />
home, all you need to do is prepare for showings! You will receive<br />
emails, phone calls, or text messages depending on your<br />
appointment preferences to confirm showing appointments.<br />
FEEDBACK<br />
Although it can be hard to secure, our team will work to collect<br />
feedback after each showing. Although we believe, the best type<br />
of feedback is an offer!
OFFERS<br />
Working with <strong>Wemert</strong> <strong>Group</strong> ensures you have expert guidance navigating and negotiating a winning offer.<br />
We will work in partnership with you to leverage our experience and negotiation skills to craft an offer that<br />
will align with both your needs and what we uncover to be the seller’s expectations.<br />
When it comes time to negotiate an offer on your home, your<br />
agent will present each offer submitted on the property to<br />
you, and consult with you on your best options.<br />
Your agent can show you a revised net sheet, helping you<br />
see clearly what you will net from the sale, no matter how the<br />
offer is structured.<br />
Some homes are lucky enough to receive multiple offers.<br />
Your agent will work with you to create a timeline and<br />
expectations for all parties if this happens and will be able to<br />
guide you through each step of the process.<br />
OFFER TERMS<br />
Sales Price<br />
Financing Terms<br />
Escrow Amount<br />
Closing Date<br />
Posession/Leaseback<br />
<strong>Seller</strong> Concessions<br />
Repairs<br />
Title Fees<br />
Appraisal Addendum<br />
Home to Sell Contingency
OFFER STRATEGIES<br />
When it comes time to make an offer on a home, your agent will help you think through your best options when it<br />
comes to structuring the offer. Ultimately, what you choose to offer for the home and the terms are up to you.<br />
CONTRACT TERM<br />
POSSIBLE MULTIPLE OFFER<br />
STRATEGIES TO CONSIDER<br />
Price<br />
Escalation Clause - $ Above Highest Offer in Multiple Offers<br />
Best and Final<br />
Escrow Deposit<br />
Consider Additional Escrow Deposited After Inspection Contingency<br />
Non-Refundable Deposit<br />
Inspection Period<br />
<strong>Seller</strong>s Prefer Shorter Periods<br />
Remove “Sole Discretion” Language<br />
Cap the Repair Amount<br />
Offer an Option Fee to the <strong>Seller</strong> to Cancel within Inspection Period.<br />
Waive the Inspection Period<br />
Appraisal Contingency<br />
Waive the Contingency - Pay the Difference at Closing.<br />
Offer Gap Coverage - Pay a predetermined amount above<br />
the appraisal value at closing.<br />
Rush the Appraisal Order During Inspection Period<br />
Loan Approval Contingency<br />
<strong>Seller</strong>s Prefer a Shorter Period<br />
Fully Waive the Loan Contingency Protections<br />
Closing Costs<br />
Offer to Pay <strong>Seller</strong>’s Closing Costs:<br />
Title Insurance: Approx $5.25 for Every $1,000 of Sales Price<br />
Doc Stamps on the Deed: .70 per $100 of Sales Price<br />
Closing Date<br />
Determine The <strong>Seller</strong>’s Needs<br />
Offer a Post Occupancy for either Free or for your PITI<br />
(principle, tax, insurance) payment amount.
WHAT COSTS<br />
CAN YOU EXPECT?<br />
REAL ESTATE BROKERAGE COSTS<br />
Broker Commission<br />
Florida Compliance Commission/ Broker Processing Fee<br />
TITLE COSTS (ESTIMATES)<br />
Settlement or Closing Fee -Sometimes referred to the Closing<br />
Fee, the Settlement Fee covers costs associated with closing<br />
operations. ($495)<br />
Owner's Title Innsurance Policy - The title insurance rate is<br />
$5.75 per thousand for the first $100,000. $100,000 to $1<br />
million: $5.00 per $1,000. $1 million to $5 million: $2.50 per<br />
$1,000.<br />
Municipal Lien Search -A Florida Municipal Lien Search<br />
protects a buyer from unknowingly acquiring debt from<br />
municipal charges. This type of detailed research uncovers<br />
unrecorded municipal liens, code violations, special<br />
assessments, open or expired permits, and unpaid utility fees.<br />
($95)<br />
Abstract or Title Search - This fee is paid to a third-party<br />
vendor to disclose historical information about the ownership<br />
of the property. ($85)<br />
HOA Estoppel Fee est $400-500 for each community- An<br />
Estoppel letter from a homeowners association is a document<br />
placed into the file when a home or condominium is in<br />
escrow. The document states the seller's annual fees for the<br />
homeowners association and indicates if the seller has paid in<br />
full or has fees due at the time of sale. "<br />
Technology/Doc Prep Fee - A Deed Prep Fee is applicable<br />
when a title is transferred, or an existing deed has to be<br />
modified as part of a transaction. ($25)<br />
GOVERNMENT CLOSING COSTS<br />
Doc Stamps on the Deed -Documentary stamp tax is levied at<br />
the rate of $. 70 per $100 (or portion thereof) on documents<br />
that transfer interest in Florida real property, such as warranty<br />
deeds and quit claim deeds.<br />
OTHER ITEMS THAT MAY BE<br />
NEGOTIATED WITH THE BUYER<br />
Termite Inspection (VA only) ($100)<br />
Lender Required Repairs for FHA and/ or VA Financing<br />
Home Warranty<br />
<strong>Seller</strong> Paid Closing Costs for Buyer (if applicable)<br />
PRORATIONS<br />
Prorated Non-Ad Valorem/CDD Credit (Paid in Advance)<br />
Prorated Ad Valorem Property Taxes Debit (Paid in Arrears)<br />
Prorated HOA Dues<br />
PAYOFFS<br />
Mortgage Principal Payoff provided by your mortgage company<br />
Interest for the days owned in the month of closing. (Mortgage<br />
interest is paid in arrears) Escrow Account Balance will be<br />
refunded to you 4-6 weeks after closing when the bank settles<br />
your account. The balance can not be used for prorations at<br />
closing.
THINGS ABOUT ESCROW<br />
YOU SHOULD KNOW<br />
4WHEN SELLING<br />
YOUR<br />
HOME<br />
1<br />
What is an escrow deposit?<br />
An escrow deposit is a good faith gesture made by the<br />
buyer to the seller, indicating the buyer is serious<br />
about purchasing the property. Once the funds are<br />
deposited, the money should not be removed by the<br />
escrow agent holding the funds without the buyer and<br />
the seller’s written consent.<br />
2<br />
In<br />
How much money should the<br />
buyer deposit into the escrow<br />
account?<br />
Florida, there is no standard percentage that a buyer<br />
must put down for escrow money. Typically, buyers<br />
should deposit as little as possible to limit their risk,<br />
while sellers should try to require a higher deposit of<br />
around 5-10% of the purchase price to ensure the<br />
buyer is serious.
3<br />
There<br />
What to do when issues<br />
arise after the parties sign<br />
the contract?<br />
are numerous issues that can arise causing a<br />
property transaction not to close. Some examples<br />
include inspections revealing major undisclosed<br />
problems with the property, failure of the property<br />
to appraise at the value of the purchase price,<br />
unsatisfied liens, or the seller or buyer failing to<br />
meet contractual obligations. However, once the<br />
deposit has been made into the escrow account, it<br />
will stay in there until either the transaction closes,<br />
the parties agree to release each other, or a<br />
judgment is entered in favor of one party.<br />
Accordingly, if issues arise, neither the buyer or<br />
seller can simply take the funds out of escrow.<br />
If for any reason other than the seller’s failure to<br />
make his or her title marketable after reasonable<br />
diligent effort, the seller fails, neglects or refuses to<br />
perform his or her obligations under the contract,<br />
the buyer may elect to receive return of the deposit<br />
without waiving any action for damages resulting<br />
from seller’s breach, and the buyer make seek to<br />
recover damages or seek specific performance.<br />
4<br />
If<br />
What happens if the parties<br />
cannot agree to a resolution<br />
over the escrow funds?<br />
the parties used the 2021 FAR/BAR contract, the<br />
buyer and seller will have 10 days after the date<br />
demands are made for the deposit in order to<br />
resolve the dispute. If there are still unresolved<br />
issues after the 10 days, the buyer and seller must<br />
go to mediation, and if mediation does not resolve<br />
the issues, an action may be filed in court. Pursuant<br />
to the 2021 contract prevailing party in a court<br />
action shall be entitled to recover from the nonprevailing<br />
party attorney’s fees and costs incurred.<br />
If the parties did not use the 2021 FAR/BAR<br />
contract, they must refer to the contract to<br />
determine dispute resolution over the escrow<br />
deposit.
FREE TOOL:<br />
Find out much portability you<br />
have at PortabilityPros.com<br />
TAKE YOUR<br />
PROPERTY<br />
TAX SAVINGS<br />
WITH YOU!<br />
SAVE OUR HOMES<br />
PORTABILITY TRANSFER<br />
If you are moving from a previous Florida homestead to a<br />
new homestead in Florida, you may be able to transfer, or<br />
“port,” all or part of your homestead assessment difference If<br />
you are eligible, portability allows most Florida homestead<br />
owners to transfer their SOH benefit from their old<br />
homestead to a new homestead, lowering the tax assessment<br />
and, consequently, the taxes for the new homestead. To<br />
transfer the SOH benefit, you must establish a homestead<br />
exemption for the new home within three years of January 1<br />
of the year you abandoned the old homestead (not three<br />
years after the sale). You must file the Transfer of Homestead<br />
Assessment Difference (Form DR-501T) with the homestead<br />
exemption application. The deadline to file these forms is<br />
March 1. Complete all forms and applications required for the<br />
exemption and file them with your county property appraiser.<br />
If the property appraiser denies your application, you may file<br />
a petition with the county’s value adjustment board. For more<br />
information, see Petitions to the Value Adjustment Board.<br />
The Department of Revenue’s website has more information<br />
about property tax benefits for homestead properties.<br />
http://floridarevenue.com/property/Pages/Taxpayers.aspx
SELLER<br />
DISCLOSURES 101<br />
What is a <strong>Seller</strong> Disclosure?<br />
In Florida a seller of residential property is obligated to disclose to a buyer all facts known to a seller that<br />
materially and adversely affect the value of the Property being sold which are not readily observable by a<br />
buyer.<br />
Is a <strong>Seller</strong> Disclosure mandatory in Florida?<br />
While a seller's property disclosure form is not required under Florida law, Florida law does require<br />
seller's and their realtors to disclose any significant material property defects that may not be easily<br />
visible to the buyer. Buyers still have the responsibility to have the property inspected.<br />
Florida Statute §720.401, is a law that<br />
requires mandatory membership in a<br />
homeowner’s association. This statute states<br />
that buyers looking to purchase real<br />
property in a community with an existing<br />
homeowner’s association must be informed<br />
of their requirement to become members of<br />
the homeowner’s association in the event<br />
that they buy the property. Additionally,<br />
members are required to pay monthly or<br />
quarterly fees as well as assessments, and<br />
risk a lien being filed on the property for<br />
failure to pay the homeowner association<br />
fees. As a consequence, if proper disclosures<br />
regarding the homeowner association<br />
disclosures has not been made, the sale can<br />
be voided.<br />
Florida condo disclosures, are governed by<br />
Florida Statute §718.503 (1), (2), and (3), and<br />
pertain to the purchase of a condominium<br />
in Florida. These laws make it illegal for<br />
sellers and developers to not disclose prior<br />
to purchase all of the specificities that go<br />
along with condo ownership. These specifics<br />
include, right to review association<br />
documents and bylaws prior to closing,<br />
property management details, property<br />
management contracts, time shares, right to<br />
evaluate any recreational leases of the<br />
condo, proof of improvements, legal<br />
ownership of the developer or seller. The<br />
Florida Condo Disclosures must be made in<br />
writing which includes the statutory<br />
language by the seller of the condo.
SAVING MONEY<br />
REISSUE<br />
CREDITS<br />
FOR TITLE<br />
REISSUE RATE a.k.a. “REISSUE CREDIT”<br />
The most common title insurance discount is the<br />
Reissue Rate. You may also hear it referred to as<br />
Reissue Credit. The reissue rate can result in a<br />
rather substantial discount for purchasers of<br />
title insurance. But before we get to the amount<br />
of the discount, let’s discuss what is required to<br />
qualify for it.<br />
First, you must PRESENT YOUR PRIOR<br />
OWNER’S TITLE POLICY FOR A DISCOUNT. The<br />
primary requirement is the existence and<br />
presentation of a previously issued owner’s<br />
policy of title insurance that insures the current<br />
owner of the property (this could be the seller in<br />
a purchase transaction or the owner in a<br />
refinance transaction).<br />
When refinancing, the reissue credit can be<br />
given no matter how old the policy is or how<br />
many times you have used it for refinancing<br />
your property.<br />
When selling, as long as it is within 3 years of<br />
the date of the issuance (effective date) of your<br />
Owner’s Policy of Title Insurance, you will be<br />
eligible. NOTE: 3 years is the limit and the prior<br />
policy has the date and time it was issued.<br />
The amount of the reissue credit will depend on<br />
(1) the amount of the prior policy and (2) the<br />
amount of the new policy. We will take the<br />
lesser of the two amounts to calculate your<br />
reissue credit.<br />
In a nutshell, if you are planning on selling or<br />
refinancing you want to find that Owner’s Policy<br />
of Title Insurance that was issued to you when<br />
you purchased the property–get it to your Title<br />
Agent to start saving money…Every little bit<br />
helps!
CALCULATING<br />
CAPITAL GAINS<br />
A Special Real Estate Exemption for Capital Gains<br />
Up to $250,000 in capital gains ($500,000 for a married couple) on the home sale is exempt from taxation if<br />
you meet the following criteria: (1) You owned and lived in the home as your principal residence for two out<br />
of the last five years; and (2) you have not sold or exchanged another home during the two years preceding<br />
the sale. You may qualify for a reduced exclusion if you otherwise qualify but are short of the two-out-of-thelast-five-years<br />
requirement if you meet what the tax law calls “unforeseen circumstances,” such as job loss,<br />
divorce, or family medical emergency.<br />
How to Calculate Gain<br />
Your home’s original sales price when you bought it<br />
(not what you brought to closing).<br />
Additional costs you paid toward the original purchase<br />
(include transfer fees, attorney fees, and inspections<br />
but not points you paid on your mortgage).<br />
Cost of improvements you’ve made (include room<br />
additions, deck, etc. Improvements do not include<br />
repairing or replacing existing items).<br />
Current selling costs (include inspections, attorney<br />
fees, real estate the commission, and money you<br />
spent to fix up your home to prepare it for sale).<br />
Add the above items to get your adjusted cost basis:<br />
The final sale amount for your home.<br />
The adjusted cost basis figure from above.<br />
Your capital gain:
1031 EXCHANGE<br />
WHAT IS A 1031 EXCHANGE AND<br />
HOW DOES IT WORK?<br />
A 1031 exchange gets its name from Section 1031 of the U.S. Internal<br />
Revenue Code, which allows you to avoid paying capital gains taxes when<br />
you sell an investment property and reinvest the proceeds from the sale<br />
within certain time limits in a property or properties of like kind and equal<br />
or greater value.<br />
Any property held for productive use in a trade or business or for<br />
investment can be exchanged for like-kind property. Like-kind refers to<br />
the nature of the investment rather than the form. Any type of<br />
investment property can be exchanged for another type of investment<br />
property. A single-family residence can be exchanged for a duplex, raw<br />
land for a shopping center, or an office for apartments. Any<br />
combination will work. The exchanger has the flexibility to change<br />
investment strategies to fulfill their needs.<br />
1<br />
2<br />
3<br />
4<br />
5<br />
6<br />
7<br />
LIKE-KIND PROPERTY<br />
The property is being sold and the property being<br />
acquired must be similar, or like-kind.<br />
INVESTMENT OR BUSINESS<br />
PROPERTY ONLY<br />
1031 exchanges are only applicable for investment or<br />
business property, not personal property.<br />
REPLACEMENT PROPERTY SHOULD BE<br />
OF EQUAL OR GREATER VALUE<br />
NO 'BOOT' = NO TAXES<br />
For an exchange to be completely tax-free, the replacement<br />
property must not be of lesser value. The difference is called<br />
a 'boot' and is subject to capital gains taxes.<br />
MUST INVOLVE SAME TAXPAYER<br />
The tax return, and the name appearing on the title of the<br />
property being sold, must be the same as the tax return and<br />
titleholder of the new property<br />
45 DAY IDENTIFICATION WINDOW<br />
The property owner has 45 days to identify up to three<br />
potential properties of like-kind, after closing or the first<br />
property.<br />
180 DAY PURCHASE WINDOW<br />
The replacement property is received and the exchange<br />
completed no later than 180 days after the sale of the<br />
exchanged property.
FIRPTA<br />
FOREIGN INVESTMENT IN<br />
REAL PROPERTY TAX ACT<br />
What are the witholding requirements when a seller is not a<br />
US Citizen or US Resident?<br />
?<br />
Does the buyer have definite<br />
plans to use the property as his<br />
residence*?<br />
NO<br />
Buyer is required by<br />
law to withhold<br />
15%.<br />
YES<br />
What is the sales price?<br />
$300,000<br />
OR LESS<br />
Complete buyer's<br />
declaration for<br />
$300,000<br />
residence<br />
exemption form.<br />
MORE THAN<br />
$300,000<br />
BUT NOT MORE<br />
THAN $1MILLION<br />
Buyer is required<br />
by law to<br />
withhold 10%.<br />
MORE<br />
THAN $1MILLION<br />
Buyer is required<br />
by law to withhold<br />
15%.<br />
NOTE: If the seller believes she may be eligible for an IRS Withholding Certificate,<br />
she should contact a CPA or tax attorney regarding application form 8288-B in<br />
order to obtain a determination from the IRS whether a lesser amount is due.<br />
*The buyer or a member of their family must have definite plans to reside at the<br />
property for at least 50% of the number of days the property is used by any<br />
person during each of the first two 12-month periods following the date of<br />
transfer. When counting the number of days the property is used, do not count<br />
the days the property will be vacant.<br />
The information contained herein is for general information only and should not be relied<br />
upon for tax, legal or accounting advice. You should consult your own tax, legal and<br />
accounting advisors before engaging in any transaction.
YAY<br />
IT'S ALMOST CLOSING DAY!<br />
As the closing day (the day the new Buyer takes<br />
possession) approaches, you will need to make sure to<br />
inform the utility companies of your impending move.<br />
A final walk-through of the home will typically take place<br />
within 24 hours of final closing by the buyer. Your<br />
Transaction Manager will take care of scheduling this with<br />
all parties. The closing will typically take place at a title<br />
company.<br />
Please make sure you have cleared the home of the<br />
personal items you will be taking with you in the move,<br />
and leave the home in at least 'broom swept' condition by<br />
the time walkthrough is scheduled to happen. You should<br />
be completely moved out the day before closing day.<br />
At closing, please let your agent know where extra keys,<br />
mailbox keys, garage door openers, etc have been left for<br />
the buyers. You can expect to sign your name many times.<br />
You'll be putting your John Hancock on a pile of legal<br />
documents! If all goes well (as it usually does), you will<br />
eventually leave your house closing with a stack of<br />
documents. (which you should save)<br />
Plan ahead to bring two forms of ID to closing and we'll be<br />
there to guide you through the rest!<br />
When the property is transferred to the new owner, you<br />
will receive your proceeds, legal fees, and any<br />
adjustments). The Keys are not given to the buyer until we<br />
fund and proceeds are distributed to all parties.<br />
WE CAN'T WAIT TO CELEBRATE WITH YOU!
PREPARING FOR<br />
YOUR SALE<br />
COMPLETE LISTING PAPERWORK<br />
Survey - if in a flood zone, elevation certificate<br />
Floor Plan & Deed<br />
Previous Title Insurance Policy if under 3 years<br />
Spare House Key(s)<br />
HOA Contact Information<br />
HOA Documents/Condo Documents<br />
List of Upgrades<br />
Mortgage Payoff Information<br />
GET READY FOR YOUR PHOTO APPOINTMENT<br />
Clean off the counter-tops in both the kitchen and baths<br />
Remove shampoo bottles from showers<br />
Remove magnets from the fridge<br />
Remove small throw rugs & kitchen or bath towels from around the house<br />
De-clutter - think model home and de-personalize<br />
Remove tablecloths and doilies<br />
Power wash driveway, patio, and sidewalks<br />
Open all drapes and blinds<br />
Turn on all lights<br />
**We will not photograph closets or the interior of the garage so feel<br />
free to use those to store boxes or other items from the house
5<br />
THINGS TO DO WHEN<br />
MOVING<br />
We know that moving day can be both exciting<br />
and stressful! Here are five things you can do to<br />
make moving day a breeze.<br />
CONNECT YOUR INTERNET/UTILITIES<br />
When you move, you will need to connect your<br />
utilities. The utility company will need your new<br />
address, your preferred connection date,<br />
contact number and identification.<br />
2<br />
CHANGE YOUR ADDRESS<br />
1<br />
Go to USPS.com/move to change your address<br />
online. This is the fastest and easiest way, and<br />
you immediately get an email confirming the<br />
change.<br />
Also, be sure to update the following:<br />
Magazine or box-style subscriptions<br />
Your car insurance and registration provider<br />
Your driver’s license<br />
Your details on the electoral roll<br />
Your bank<br />
And online shopping accounts (ie: Amazon, etc)<br />
3<br />
UPDATE YOUR NEW CONTACT INFO<br />
Although it’s important to make sure you<br />
officially change your address with relevant<br />
businesses and the post office, it’s also<br />
important to update your friends and relatives.<br />
Send a text message or email notifying people<br />
of your new address!<br />
4<br />
PACK AN UN-PACKING BOX<br />
One of the first things you need to pack when<br />
moving house is an unpacking box. This box<br />
should contain allen keys, any tools you might<br />
need to construct furniture, labeled zip lock<br />
bags with screws from furniture you<br />
dismantled in the move, scissors, screwdrivers,<br />
masking tape, dust cloths and glue. Having<br />
these items all in the same box will save you<br />
time and your sanity when setting up your new<br />
home.<br />
5<br />
PACK A FIRST NIGHT BOX<br />
Just as important as the un-packing box, the<br />
first night box is essential to a successful move.<br />
It should contain a change of clothing, basic<br />
toiletries, toilet paper, pajamas, towels, bed<br />
linens and any other essentials you may<br />
require like tea bags or a coffee pot. It makes<br />
such a big difference when you aren’t frantically<br />
searching through boxes at midnight trying to<br />
find your toothbrush!
THE BENEFITS OF BEING<br />
GROUPVIP<br />
A<br />
WEMERT<br />
Designed with you in mind, the <strong>Wemert</strong> VIP Program is your official member benefits<br />
resource, bringing you savings and special offers just for choosing to work with us!<br />
A COMPLIMENTARY<br />
MARKET ANALYSIS ON<br />
YOUR HOME<br />
We will provide a<br />
complimentary market<br />
analysis (CMA) of your home<br />
anytime you'd like one so you<br />
can see how your investment<br />
is doing.<br />
FRIENDS & FAMILY<br />
PROGRAM<br />
We'd be honored if you'd<br />
think of us when friends or<br />
family mention having real<br />
estate needs<br />
ACCESS TO OUR<br />
TRUSTED LOCAL<br />
VENDORS<br />
Over the years, we've collected<br />
a list of local vendors in our<br />
area who excel at customer<br />
service and satisfaction.<br />
WEMERT GROUP<br />
REALTY VIP ONLY<br />
FACEBOOK GROUP<br />
Access to members only<br />
giveaways, contests, events<br />
and more!<br />
FREE FINANCIAL<br />
PLANNING<br />
CONSULTATIONS<br />
&<br />
FREE NOTARY<br />
Bring your prepared<br />
documents to our office<br />
anytime during the week, 9AM<br />
- 5:00PM, for complimentary<br />
Notary services.<br />
FREE HR BENEFITS<br />
FOR LOCAL<br />
BUSINESSES<br />
Own, or know someone, who<br />
owns a local business? We<br />
provide 'free-to-the-business'<br />
benefits that will provide<br />
value, relocation help and<br />
services for new and current<br />
employees.<br />
When you work with <strong>Wemert</strong> <strong>Group</strong> <strong>Realty</strong>, we aim to be the only real estate team you will need. Your<br />
agent can be an amazing resource for you. If you need vendor recommendations, want to know if your<br />
home value has increased, or have a question or concern about your home- just ask!
The Real Estate Closing<br />
Experience You Deserve<br />
Your closing should be simple and<br />
straightforward. Our secure portal allows you<br />
to stay updated on your closing and access all of<br />
your important documents in one place.<br />
INSTANT UPDATES<br />
Monitor your transaction from loan to closing,<br />
getting updates for key milestones along the way.<br />
SAFE COMMUNICATION<br />
Protect yourself from phishing and fraud using<br />
our secure, unified closing platform.<br />
813-295-8525<br />
RedDoorTitle<strong>Group</strong>.com<br />
407-865-0080